Settha Thavisin, Prime Minister and Minister of Finance Participated in the ‘Thailand Landbridge Roadshow’ project seminar during the mission to attend the 30th APEC Economic Leaders’ Meeting.

Mr. Settha Thavisin, Prime Minister and Minister of Finance During the mission to attend the 30th APEC Economic Leaders’ Meeting (2023 APEC Economic Leaders’ Meeting), attended the ‘Thailand Landbridge Roadshow’ project seminar on November 13, 2023 to invite major companies to join in investing in the project. Land bridges by various companies Showing interest in coming to invest It is expected that when the project is fully implemented, it will drive the Thai economy to grow 5.5% per year and create 280,000 jobs.

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1. At this time, shipping ships must pass through the Malacca Strait for maritime trade between Asia and Europe. A quarter of world trade and more than 70% of oil exported from the Middle East transits through the strait. This makes it one of the busiest transportation bottlenecks in the world. Approximately 90,000 ships pass through the strait each year and this is increasing by an average of 2.35 % every year. This volume is expected to exceed the strait’s capacity by 2030.

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2. The Land Bridge project will become a new shipping route in the world. Because it is an alternative to solving traffic problems through the Malacca Strait that is cheaper, faster and safer. It will also elevate Thailand to be a center for transporting goods. and produce products that can be transported through the project port immediately

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3. When comparing the cost and time for transportation through Landbridge with the Straits of Malacca, Landbridge’s potential target audience includes:

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– Feeder vessels: Goods from China and European countries by mainline vessels will be forwarded by container ships in this area. This saves at least 4% in costs and can be completed in 5 days.

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– Goods from Southeast Asia to Central Asia and the Middle East using container ships to cross between the Indian Ocean and the Pacific Ocean. Can save at least 4% cost and save 3 days of time.

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– Products from Thailand, Laos, Cambodia and Southern China to BIMSTEC and European countries. Distributed using Landbridge container ships to different regions, this provides cost savings of up to 35% and a time savings of 14 days.

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In summary, transporting goods via Landbridge saves 4 days on travel time and reduces costs by 15% on average.

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4. During the APEC meeting, the Prime Minister invited US investors from companies such as SSA Marine, Oracle, Jacob, AWS, eBay, Port of Long Beach, among others. Interested in investing in this project? Because they saw the potential in Thailand and the future density of ships in the Malacca Strait.

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5. The Landbridge project will drive the overall national economy, creating 280,000 jobs, and Thailand’s GDP is expected to grow 5.5% per year, or equivalent to $670 billion, when the project is fully implemented.

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